Green investment and its influence on green growth in high polluted Asian economies: Do financial markets and institutions matter?

Yunqian Mo, Sana Ullah and Ilhan Ozturk

Economic Research-Ekonomska Istraživanja, 2023, vol. 36, issue 2, 2140302

Abstract: The notion of green growth has occurred as a leading policy response to environmental pollution. This study explores the dynamic impacts of green investment, financial institutions & markets on green growth based on a time series data set comprised of four high polluted Asian countries from 1995 to 2019. We found several important short and long-run results from the ARDL bounds testing approach. First, green investment has a positive long-run effect on green growth in China, India, and Russia. Second, financial institutions have positive long-run effects on green growth in China, India, and Japan; but financial markets improve only in China and Russia. The findings also propose that internet users and R&D foster green growth in mostly high polluted Asian countries. Thus, our findings offer some implications for high polluted Asian countries to stimulate green growth in the future.

Date: 2023
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DOI: 10.1080/1331677X.2022.2140302

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